Seoul, Nov. 25 -- LG Electronics India has become a major success story with the company's local arm achieving a market capitalization of Rs 1.12 trillion (USD 12.49 billion) as of Friday. The company even surpassed its South Korean parent, LG Electronics Inc., valued at about 14.9 trillion won (USD 10.14 billion), as per a report by Pulse, the English service of Maeil Business News Korea.

The company's rise in India has been driven by what its Managing Director of LG Electronics India, Hong Ju Jeon, calls the "Made in India, Made for India" strategy. Jeon said the approach follows the principle of "thinking like an Indian," shaping products that fit local habits and needs rather than importing global models without changes.

Jeon explai...